Stuart Stott Joins Spire as Vice President of Solar Systems

Spire Corporation (Nasdaq: SPIR), a global solar company providing capital equipment and turn-key manufacturing lines to produce photovoltaic (PV) modules, and Engineering, Procurement, and Construction (EPC) integration services for solar systems, announced today that Mr. Stuart Stott has joined the Company as its Vice President of Solar Systems. Mr. Stott will be responsible for leading Spire’s expanding Solar Systems business.

Spire Solar Systems' new Vice President, Mr. Stuart Stott. (Photo: Business Wire)

Mr. Stott brings to Spire extensive experience in developing large-scale power projects, as well as building sales organizations and strategic partnerships for organizations ranging from startups in rapid growth stages to multi-billion dollar utilities. Most recently, Mr. Stott served as the Global and Renewables Category Manager at New Jersey’s largest regulated public energy company, Public Service Enterprise Group (PSEG), where he led solar EPC contracts totaling over 100 MW capacity. Mr. Stott’s two-decade career in energy and construction management began at Southern Company (now Mirant) managing development projects throughout Asia, and has included senior management roles at Invensys and K. Hovnanian.

"We are pleased to have Mr. Stott leading our Systems group at this exciting time,” said Spire Corporation Chairman and CEO, Roger G. Little. "We anticipate the large-scale PV systems market will continue to grow over the next few years as savvy companies and government agencies hedge against volatile electricity prices by integrating clean, renewable solar-generated facilities. Mr. Stott’s knowledge of the energy sector and his project management track record will make him an asset to Spire and our customers.”

Mr. Stott is an active member of the solar industry and frequently speaks at conferences and events. He earned his Master’s degree from the University of Texas and the Australian Graduate School of Business and holds a Bachelors of Commerce from the University of Natal in South Africa.

About Spire Corporation

Spire Corporation is a global solar company providing capital equipment and turn-key production lines to manufacture PV modules. Spire Solar Systems, a division of Spire Corporation, is a full-service EPC provider of large-scale solar systems to commercial and federal customers. To learn more, visit www.SpireSolarSystems.com or email PR@SpireCorp.com.

Certain matters described in this press release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company's Form 10-K and other periodic reports filed with the Securities and Exchange Commission.

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